Competing in the top echelon of motorsport isn't on the cards for one of the world's most ambitious car makers.

Hyundai rules out F1

A great way to lose money: that's how Hyundai views Formula 1, regarded as the pinnacle of motorsport.

Speaking at a media event to showcase its new N performance sub-brand, its boss, Albert Biermann, was scathing of F1's ability to shed money.

"Formula 1 is like burning money," says Biermann. "There are more interesting ways of burning money."

Top F1 teams such as Ferrari, Mercedes-AMG and Red Bull each spend hundreds of millions of dollars annually on the sport.

While it can be a fantastic marketing tool - its Ferrari's prime marketing spend and has helped boost the brand image of Mercedes-AMG - it can also backfire.

Just ask Honda, which is currently pumping hundreds of millions into F1 as an engine supplier only to post poor results and cop heavy criticism on reliability and performance.

Hyundai won't be joining the likes of Mercedes-AMG in Formula One. Photo: David Ramos

Toyota, too, struggled in F1, failing to achieve its goal of winning a championship.

However, despite shunning F1, Hyundai sees other forms of motorsport as a crucial component of its big task to grow its upcoming N sub-brand.

"It's essential to have that link to the high emotional racing environment, this is why we initiated the TCR project," Bierman says of the project to develop a car to race in the Touring Car Racing championship. "TCR is developing nicely into a global racing platform and this is exactly what we need, we need that race car out there."

Years ago Hyundai was reported to be in talks with F1, however, nothing eventuated.

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Drive Comments

Mr Majestyk | 17 Jun 2017 02:18

Good, the F stands for farce anyway. F1 has become a boring circus for billionaires, the drivers are boring, the racing is boring, the costs appalling. Getting a seat is just as much about talent as who your know or who you are. Ecclestone raped F1 for many billions and the damage is done. I wish the manufacturers would act on their threat for a breakaway F1 series.

kangaroo Mr Majestyk | 17 Jun 2017 06:43

Agree - EXCEPT the bit about the drivers. They are about the only interesting bit in modern F1. Seeing Ricciardo challenging for the podium in a car that is clearly below par is about the most interesting part of this season's racing. His attitude also makes him a fantastic ambassador for an otherwise dull motorsport series.